Crypto Company Transfers N6.930 Billion By Mistake To Woman And Did Not Know Seven Months After
- A crypto currency company mistakenly transferred $10.5 million to a woman in Australia while trying to refund someone $100
- The company did not notice the error until seven months and began a legal action to force the woman to refund the money
- In February this year, the company obtained a court order to freeze the woman's bank accounts
The Crypto trading company crypto.com mistakenly transferred N6.930 ($10.5 million) to a woman in Australia when it processed a $100 refund and did not notice the mistake for seven months.
The Guardian reported that the company found it had erroneously made the transfer to the Melbourne woman, Tevamanogari Manivel, in December of last year, seven months after the transfer was made.
Source: Getty Images
Company makes moves to retrieve funds
Crypto.com had paid out $10.5 million the money rather than the $100 refund after the woman’s account number was accidental entered into the payment amount portal.
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The firm launched legal action in the Victorian Supreme Court this year and was given a freeze on the woman’s bank account in February. Still, most of the money has been transferred to other accounts, which were frozen.
According to a court hearing, $1.35 million of the money had been used to buy a four-bedroom home in Melbourne in February, and the ownership of the property was given in the name of Manivel’s sister, Thilagavathy Gangadory, living in Malaysia.
Gangadory never responded to emails by the company’s lawyers.
Manivel’s lawyer told the company that Gangadory was seeking legal advice.
Company sacks over 200 staff
Due to this, a default judgment was awarded to Crypto.com to force Gangadory to sell the property as soon as possible, and the money to go to Crypto.com both interest for $27,369.64 and costs.
Crypto.com did not comment on the case while it was still in court.
In June, the company said it was laying off about 260 staff due to a downturn in the crypto industry, and there were reports the company sacked more people.
Seven major Crypto scams of 2021 and how cybercriminals stole N4.11trn worth of coins from traders wallets
Legit.ng reported that cybercriminals are now taking advantage of the ongoing craze around cryptocurrencies to trick potential victims and steal their digital money.
A new report titled “Crypto Hacks & Scams Report 2021” released by Crystal Blockchain shows that crypto investors in this year lost over $10 billion(N4.11 trillion) globally.
While another report from Chainalysis shows that the amount of money lost is over $7.7 billion worth of crypto currency worldwide.
Source: Legit.ng
